Alcomet will not distribute dividends for 2020; Automotive parts segment to reach 25% of revenue (NEUTRAL)

10.06.2021 Source: Alcomet;; FFBH

At the GSM, held on 9 June, the shareholders of Alcomet approved no dividend distribution. At a separate event – The Sound of Money conference, the company’s IR Director, Petar Stanchev announced that Alcomet will focus towards expansion in the automotive parts development segment. Up to 25% of the company’s revenue is expected to come from that segment in the following years. Please recall, that in 2020 Alcomet registered revenue of BGN 347.1m (-1.3% YoY) and net loss of BGN 2.7m, compared to BGN 8.6m profit in 2019.